23, July 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

Overview

The U.S. dollar maintained its position against the franc. We didn’t observe the significant changes in the absence of the catalysts in the important economic data trading form. The investors are still very concerned about the geopolitical events in the recent times. Technically, the USD/CHF stabilized after the reaching the area 0.8990. The resistance at 0.9000 was broken.

The price is finding the first support at 0.9000, the next one is at 0.8950. The price is finding the resistance at 0.9035.

There is a confirmed and strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement and form a “Golden cross”. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is growing.

Trading recommendations

We advise the long positions with the first target - 0.9035.